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BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced that its common stock will commence trading on the NASDAQ Global Market effective with the opening of the market today under the new ticker symbol "BPAX". BioSante announced on October 23 its intention to transfer its common stock listing from the American Stock Exchange to the NASDAQ.
"Moving to NASDAQ is another example of the progress we've made at BioSante," said Stephen M. Simes, BioSante's president and chief executive officer. "We believe listing on NASDAQ will bring added visibility and exposure to BioSante as well as improve our stock's liquidity."
"NASDAQ is delighted to have BioSante Pharmaceuticals among our 3,100 listed companies," said NASDAQ's Senior Vice President of New Listings and Capital Markets, Bob McCooey. "The pharmaceutical industry is an important sector to NASDAQ and we look forward to a longstanding partnership with BioSante."
About BioSante Pharmaceuticals, Inc.
BioSante is developing a pipeline of hormone therapy products to treat both men and women. These hormone therapy products are gel formulations for transdermal administration that deliver bioidentical estradiol and testosterone. BioSante's lead products include Elestrin™ (estradiol gel) developed through U.S. Food and Drug Administration (FDA) approval by BioSante indicated for the treatment of moderate-to-severe vasomotor symptoms associated with menopause, marketed in the U.S. by Bradley Pharmaceuticals, Inc., BioSante's licensee, and LibiGel® (transdermal testosterone gel) in Phase III clinical development by BioSante for the treatment of female sexual dysfunction (FSD). Also in development are Bio-T-Gel™, a testosterone gel for male hypogonadism, and an oral contraceptive in Phase II clinical development using BioSante patented technology. The current market in the U.S. for estrogen and testosterone products is approximately $2.5 billion and for oral contraceptives approximately $3.0 billion. The company also is developing its calcium phosphate nanotechnology (CaP) for novel vaccines, drug delivery, and aesthetic medicine. Additional information is available online at http://www.biosantepharma.com .
NASDAQ® is the largest U.S. electronic stock market. With approximately 3,100 companies, it lists more companies and, on average, its systems trade more shares per day than any other U.S. market. NASDAQ is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ website at http://www.nasdaq.com or the NASDAQ NewsroomSM at http://www.nasdaq.com/newsroom .
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include the effect of the NASDAQ listing on BioSante, its common stock and investors. Forward-looking statements are based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Important factors known to BioSante that could cause actual results to differ materially from those expressed in such forward-looking statements include the ability of BioSante to continue to satisfy listing requirements of The NASDAQ Global Market and other factors identified and discussed from time to time in BioSante's filings with the Securities and Exchange Commission, including those factors discussed in BioSante's most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, which discussions also are incorporated herein by reference. All forward-looking statements speak only as of the date of this news release. BioSante undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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BioSante Pharmaceuticals, Inc.
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